BUZZ-KeyBanc cuts EOG Resources to 'sector weight'

Reuters01-16

** KeyBanc Capital Markets downgrades U.S. energy producer EOG Resources EOG.N to "sector weight" from "overweight"

** Brokerage sees clear signs of degradation in both the Eagle Ford and Delaware Basin and a significant decline in Eagle Ford activity

** Remains bullish on the oily Utica asset, but is concerned by productivity changes from the legacy workhorse assets in Texas

** Amid weak oil prices and volatile natural gas prices, we nudge down 1H26 oil and natural gas price outlooks, but keep our deck unchanged in 2H26 and beyond - KeyBanc

** Separately, Scotiabank cuts price target on EOG to $123 from $130

** Eighteen out of 34 brokerages rate the stock "buy" or higher and 16 "hold"; their median PT is $135 - data compiled by LSEG

** In 2025, EOG fell 14.3%

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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